ZEVEN: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
ZEVEN
Largest movements
- Tangible fixed assets -€82,043
down €82,043 (-24.2%), from €339,213 to €257,170
of which Leasing and similar rights: -€42,735
- Current investments +€17,706
up €17,706 (+68.3%), from €25,936 to €43,642
- Cash +€11,540
up €11,540 (+174.1%), from €6,628 to €18,169
mainly Depreciation (+€83,543) and Net result for the year (+€26,052)
- Receivables within one year -€7,484
down €7,484 (-5.4%), from €139,304 to €131,820
of which Trade receivables: -€7,157
- Debts after one year -€60,697
down €60,697 (-41.2%), from €147,206 to €86,509
- Profit (loss) carried forward +€26,052
up €26,052 (+20.4%), from -€127,716 to -€101,665
- Current portion of long-term debt -€25,604
down €25,604 (-29.7%), from €86,301 to €60,697
- Tax, wage and social debts +€9,624
up €9,624 (+25.4%), from €37,922 to €47,546
of which Remuneration and social security: +€10,008
- Trade debts -€8,343
down €8,343 (-9.6%), from €86,468 to €78,125
- Gross operating margin -€13,369
down €13,369 (-3.5%), from €378,781 to €365,411
- Staff costs +€10,400
up €10,400 (+4.5%), from €230,095 to €240,495
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €633,792 | €576,050 | -€57,742 | -9.1% |
| Fixed assets | 21/28 | €341,463 | €257,920 | -€83,543 | -24.5% |
| Intangible fixed assets | 21 | €2,250 | €750 | -€1,500 | -66.7% |
| Tangible fixed assets | 22/27 | €339,213 | €257,170 | -€82,043 | -24.2% |
| Land and buildings | 22 | €210,154 | €184,320 | -€25,834 | -12.3% |
| Plant, machinery and equipment | 23 | €51,574 | €41,199 | -€10,374 | -20.1% |
| Furniture and vehicles | 24 | €15,488 | €12,388 | -€3,100 | -20.0% |
| Leasing and similar rights | 25 | €61,998 | €19,263 | -€42,735 | -68.9% |
| Current assets | 29/58 | €292,329 | €318,130 | +€25,801 | +8.8% |
| Stocks and contracts in progress | 3 | €111,577 | €113,473 | +€1,896 | +1.7% |
| Stocks | 30/36 | €89,950 | €95,231 | +€5,280 | +5.9% |
| Contracts in progress | 37 | €21,627 | €18,243 | -€3,384 | -15.6% |
| Amounts receivable within one year | 40/41 | €139,304 | €131,820 | -€7,484 | -5.4% |
| Trade receivables | 40 | €137,457 | €130,300 | -€7,157 | -5.2% |
| Other amounts receivable | 41 | €1,847 | €1,520 | -€327 | -17.7% |
| Current investments | 50/53 | €25,936 | €43,642 | +€17,706 | +68.3% |
| Cash at bank and in hand | 54/58 | €6,628 | €18,169 | +€11,540 | +174.1% |
| Deferred charges and accrued income | 490/1 | €8,884 | €11,027 | +€2,143 | +24.1% |
| Total equity and liabilities | 10/49 | €633,792 | €576,050 | -€57,742 | -9.1% |
| Equity | 10/15 | €239,240 | €265,291 | +€26,052 | +10.9% |
| Contributions | 10/11 | €189,000 | €189,000 | = | 0.0% |
| Reserves | 13 | €177,956 | €177,956 | = | 0.0% |
| Distributable reserves | 133 | €177,956 | €177,956 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€127,716 | -€101,665 | +€26,052 | +20.4% |
| Amounts payable | 17/49 | €394,553 | €310,759 | -€83,794 | -21.2% |
| Amounts payable after more than one year | 17 | €147,206 | €86,509 | -€60,697 | -41.2% |
| Financial debts | 170/4 | €147,206 | €86,509 | -€60,697 | -41.2% |
| Amounts payable within one year | 42/48 | €244,560 | €219,099 | -€25,461 | -10.4% |
| Current portion of amounts payable after more than one year | 42 | €86,301 | €60,697 | -€25,604 | -29.7% |
| Financial debts | 43 | €6 | €0 | -€6 | -100.0% |
| Credit institutions | 430/8 | €6 | €0 | -€6 | -100.0% |
| Trade debts | 44 | €86,468 | €78,125 | -€8,343 | -9.6% |
| Suppliers | 440/4 | €86,468 | €78,125 | -€8,343 | -9.6% |
| Advances received on contracts in progress | 46 | €799 | €0 | -€799 | -100.0% |
| Taxes, remuneration and social security | 45 | €37,922 | €47,546 | +€9,624 | +25.4% |
| Taxes | 450/3 | €11,013 | €10,629 | -€385 | -3.5% |
| Remuneration and social security | 454/9 | €26,909 | €36,917 | +€10,008 | +37.2% |
| Other amounts payable | 47/48 | €33,064 | €32,731 | -€333 | -1.0% |
| Accrued charges and deferred income | 492/3 | €2,786 | €5,151 | +€2,364 | +84.9% |
| Remuneration, social security and pensions | 62 | €230,095 | €240,495 | +€10,400 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €80,483 | €83,543 | +€3,060 | +3.8% |
| Other operating charges | 640/8 | €5,855 | €6,591 | +€736 | +12.6% |
| Gross operating margin | 9900 | €378,781 | €365,411 | -€13,369 | -3.5% |
| Operating profit (loss) | 9901 | €62,347 | €34,782 | -€27,565 | -44.2% |
| Financial income | 75/76B | €996 | €1,182 | +€186 | +18.7% |
| Recurring financial income | 75 | €996 | €1,182 | +€186 | +18.7% |
| Financial charges | 65/66B | €12,298 | €9,437 | -€2,860 | -23.3% |
| Recurring financial charges | 65 | €12,298 | €9,437 | -€2,860 | -23.3% |
| Profit (loss) for the period before taxes | 9903 | €51,046 | €26,527 | -€24,519 | -48.0% |
| Income taxes | 67/77 | €272 | €475 | +€203 | +74.8% |
| Profit (loss) for the period | 9904 | €50,774 | €26,052 | -€24,722 | -48.7% |
| Profit (loss) for the period to be appropriated | 9905 | €50,774 | €26,052 | -€24,722 | -48.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.